Tesla Inc got payroll-related benefits from the government in the first half of this year to help decrease the impact of the coronavirus crisis on its business, the electric automaker said in a filing on Tuesday. The company, whose CEO Elon Musk has voiced against further government aid as Congress debates another round of stimulus, […]
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South Korea launches safety investigation into Tesla vehicles
South Korea said it is investigating suspected safety issues with automobiles made by U.S. automaker Tesla Inc, which is competing strongly with the Korean automaker Hyundai Motor in the South Korean electric vehicle market. Braking and steering systems which include the Autopilot function were part of the investigation, a transport ministry official informed on Wednesday. The […]
Tesla Model 3 outpaces all other electric vehicles in China in June
China is a major market for many automakers in the world but it is more than just special for Tesla. The Chinese market is helping Tesla’s rise and underlining its dominance in the electric vehicle (EV) segment. The figures from June sales clearly reveal about the flourishing of the American automaker in the country. Model […]
Tesla picks Texas site for second US vehicle assembly plant
Tesla has selected the Austin area in Texas as the site for its largest auto assembly plant hiring at least 5,000 workers. The company will construct the project on a 2,100-acre tract in Travis County and will get over $60 million in tax breaks from the county and a regional school district. In a Wednesday […]
Tesla CEO Elon Musk qualifies for $2.1 billion payday
Tesla CEO Elon Musk qualified on Tuesday for a payout worth an unprecedented $2.1 billion, his second huge achievement since May from the electric automaker after its massive stock surge. On the same day, Tesla’s stock declined 3% in afternoon trading, crumbling a recent rally that has elevated the automaker’s market capitalization to almost $300 […]
Chinese Chongqing city district discussed projects with Tesla
U.S. automaker Tesla Inc has met with authorities from a district in the city of Chongqing in southwestern China to talk about “accelerating projects”, the Liangjiang New Area stated on Tuesday. Officials met Tesla Vice-president Tao Lin to talk, Chongqing’s Liangjiang New Area stated in a Wechat social media post. It said government official Duan […]
Elon Musk becomes seventh richest person as Tesla stock continues to rise
Tesla Inc CEO Elon Musk is now the seventh-richest person in the world, surpassing well-known investor Warren Buffett, as Tesla’s stock continues to increase. Musk surpassed Buffett on Friday once Tesla shares hit an all-time high, giving Musk a net worth of about $70.5 billion, approximately $1 billion more than Buffett, according to Bloomberg. Tesla shares continued […]
Tesla cuts Model Y SUV cost as pandemic weighs on auto sector
Tesla Inc slashed the price of its sport utility vehicle Model Y by $3,000, only four months after its launch, as the U.S. electric automaker seeks to maintain sales momentum in the on-going coronavirus crisis. The decrease comes after price cuts in May on Tesla’s Model 3, Model X, and Model S. The company headed […]
Tesla to hold shareholder meet and ‘Battery Day’ on September 22
Tesla Inc will hold its yearly shareholder meeting in person on September 22 at its Fremont factory located in California, the electric automaker said on Friday. The company’s “Battery Day”, where it is expected to introduce significant advances in battery technology will also be held on the same day, the automaker said. CEO Elon Musk […]
Tesla shares increase 13% as strong deliveries drive profit optimism
Shares of Tesla Inc increased 13% to a record high on Monday, extending their rally to more than 40% in five sessions after analysts raised their price targets on the electric automaker following its strong quarterly deliveries. The day’s jump has boosted Tesla’s stock market value by $30 billion, eclipsing the entire value of Ford […]
Tesla to make molecule printers for COVID-19 vaccine developer CureVac
Tesla Inc is building mobile molecule printers to help make the possible COVID-19 vaccine which is being developed by CureVac in Germany, the electric automaker’s CEO, Elon Musk, tweeted on Wednesday. CureVac, an unlisted German company, has stated it is developing portable, automated mRNA production units that it calls printers and which Musk referred to […]
Tesla becomes most valuable automaker as valuation goes above $200 billion
Tesla Inc on Wednesday became the highest-valued automaker as its shares increased to record highs and the electric automaker’s market capitalization overtook that of former front runner Toyota Motors. The automaker’s shares gained 5% in early morning trade to a record of $1,133, increasing the company’s market cap to $209.47 billion – roughly $6 billion […]
Elon Musk calls on workers to help automaker break even in 2nd quarter
Tesla Inc CEO Elon Musk in an internal email called on workers to work hard to allow the electric automaker to break even in the second quarter regardless of the coronavirus pandemic. The rallying cry has become a familiar theme in recent quarters at the automaker, with Musk calling on workers to quickly build and […]
Ford Ranger, Tesla models tops ‘American-Made’ car index
Ford Motor’s new Ranger truck achieved No.1 rank in vehicles that contribute most to the U.S. economy, while three of Tesla’s models placed in the top nine. The two automaker’s brands couldn’t be found in Cars.com’s top 10 last year but stood out in the 2020 version of the automotive site’s “American-Made Index.” Ford’s pickup […]
‘Battery Day’ and shareholder meeting likely on September 15, says Musk
Tesla Inc CEO Elon Musk has said September 15 is the tentative date for the company’s shareholder meeting and also “Battery Day”, at which the electric automaker is expected to reveal major advances in battery technology. The battery event, which Musk has promoted as being “one of the most of exciting days in Tesla’s history”, […]
